UBS Group Reiterates Neutral Rating for Intra-Cellular Therapies (NASDAQ:ITCI)

UBS Group reiterated their neutral rating on shares of Intra-Cellular Therapies (NASDAQ:ITCI) in a report published on Tuesday, Marketbeat Ratings reports. UBS Group currently has a $83.00 price objective on the biopharmaceutical company’s stock, down from their prior price objective of $85.00.

Several other research firms have also recently weighed in on ITCI. Cantor Fitzgerald reiterated an overweight rating and set a $120.00 price objective on shares of Intra-Cellular Therapies in a report on Friday, June 14th. Bank of America upped their price target on shares of Intra-Cellular Therapies from $82.00 to $91.00 and gave the company a buy rating in a report on Wednesday, April 17th. The Goldman Sachs Group increased their price objective on shares of Intra-Cellular Therapies from $67.00 to $77.00 and gave the stock a neutral rating in a research report on Wednesday, April 17th. TD Cowen boosted their price objective on shares of Intra-Cellular Therapies from $80.00 to $90.00 and gave the company a buy rating in a research report on Wednesday, April 17th. Finally, Mizuho increased their target price on Intra-Cellular Therapies from $96.00 to $100.00 and gave the stock a buy rating in a report on Friday, June 21st. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Intra-Cellular Therapies has a consensus rating of Moderate Buy and an average price target of $94.33.

Intra-Cellular Therapies Stock Performance

Shares of NASDAQ:ITCI opened at $68.49 on Tuesday. The company has a 50 day moving average price of $69.39 and a two-hundred day moving average price of $69.02. The company has a market capitalization of $7.23 billion, a PE ratio of -59.04 and a beta of 0.97. Intra-Cellular Therapies has a 52 week low of $45.50 and a 52 week high of $84.89.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its quarterly earnings data on Tuesday, May 7th. The biopharmaceutical company reported ($0.16) EPS for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.15. The business had revenue of $144.90 million during the quarter, compared to analysts’ expectations of $141.41 million. Intra-Cellular Therapies had a negative net margin of 21.57% and a negative return on equity of 18.49%. The firm’s quarterly revenue was up 52.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.46) EPS. On average, sell-side analysts forecast that Intra-Cellular Therapies will post -0.51 earnings per share for the current year.

Insider Activity at Intra-Cellular Therapies

In other Intra-Cellular Therapies news, Director Nostrand Robert L. Van sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $75.91, for a total transaction of $1,518,200.00. Following the transaction, the director now owns 9,690 shares of the company’s stock, valued at approximately $735,567.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Intra-Cellular Therapies news, Director Nostrand Robert L. Van sold 20,000 shares of the stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $75.91, for a total value of $1,518,200.00. Following the completion of the sale, the director now owns 9,690 shares in the company, valued at $735,567.90. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Rory B. Riggs sold 4,462 shares of the business’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $75.57, for a total transaction of $337,193.34. Following the transaction, the director now owns 116,600 shares in the company, valued at $8,811,462. The disclosure for this sale can be found here. Insiders own 3.40% of the company’s stock.

Institutional Trading of Intra-Cellular Therapies

Several institutional investors and hedge funds have recently bought and sold shares of the business. Farallon Capital Management LLC acquired a new position in shares of Intra-Cellular Therapies during the 1st quarter worth approximately $15,985,000. Tidal Investments LLC boosted its position in Intra-Cellular Therapies by 13.9% during the first quarter. Tidal Investments LLC now owns 3,698 shares of the biopharmaceutical company’s stock worth $256,000 after purchasing an additional 450 shares during the period. Avoro Capital Advisors LLC boosted its position in Intra-Cellular Therapies by 9.7% during the first quarter. Avoro Capital Advisors LLC now owns 2,475,000 shares of the biopharmaceutical company’s stock worth $171,270,000 after purchasing an additional 219,445 shares during the period. Affinity Asset Advisors LLC acquired a new position in shares of Intra-Cellular Therapies in the first quarter valued at $3,460,000. Finally, EntryPoint Capital LLC raised its position in shares of Intra-Cellular Therapies by 138.7% in the first quarter. EntryPoint Capital LLC now owns 2,167 shares of the biopharmaceutical company’s stock valued at $150,000 after purchasing an additional 1,259 shares during the period. Institutional investors own 92.33% of the company’s stock.

Intra-Cellular Therapies Company Profile

Intra-Cellular Therapies, Inc, a biopharmaceutical company, focuses on the discovery, clinical development, and commercialization of small molecule drugs that address medical needs primarily in neuropsychiatric and neurological disorders by targeting intracellular signaling mechanisms in the central nervous system (CNS) in the United States.